Donald Trump denied that a GOP donor with a significant stake in TikTok convinced him to reverse his support of restricting the social media app.
by CNBC’s Andrew Ross Sorkin about accusations that Jeff Yass, a hedge fund manager who regularly donates to GOP candidates and holds a stake in TikTok, had convinced the former president to oppose legislationin the House of Representatives that would force the Beijing-headquartered company ByteDance to sell TikTok to a domestic owner. Former Trump adviser Steve Bannon had alleged that Yass had paid off Trump to oppose the legislation.“I met with very briefly,” Trump told Sorkin.
Trump said a 2020 executive order “could have banned TikTok” but that Congress’s intervention led to its failure. He also said he views TikTok and its connections to the Chinese Communist Party as a national security threat but that the rival platforms operated by Meta should also be viewed as an “enemy of the people.”“If you get rid of TikTok, Facebook and Zuckerschmuck will double their business,” Trump said on his network, .
Trump’s 2020 order was meant to force ByteDance to sell TikTok to another company, with Microsoft and the cloud server host Oracle as the leading contenders. The measure wasas an overextension of the president’s power. President Joe Biden’s administration eventually dropped the attempted restriction and shifted to the Commerce Department leading aRep.
Gallagher has said his bill is not a ban but merely an attempt to sever TikTok from the influence of the Chinese Communist Party through divestment. Speaker of the House Mike Johnson has voiced support for the bill, and Biden said that he would sign the bill into law.
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